It is one of the stories you've read parts of in class or maybe just heard about (Even in the Netherlands, where it is after all not as well known as Shakespeare; but I personally like this one better).
Dr. Faustus is tempted to sell his soul to the devil in order to make his wishes (ultimate wisdom for example) come true.
The story shows similarities to a well known 16th century Dutch play called 'Marieken van Nieumeghen'; in which Marieken also makes a deal with Mephisto in exchange for wisdom.
It's a short read, just sit down an hour or two and read this book. It's available for free on forgottenbooks.com. I liked the Latin in it as well, but when you can't translate it, it's not a problem to understand the story. Personally I liked the notes which came with the story (as it is a play) and some seemed rather extraordinary but were fun to read and imagine Enjoy the story!